Government of India has introduced various schemes to promote the export of notified goods and services under Foreign Trade Policy (2015-20). MSKA & Co is offering expert advisory and compliance services with holistic knowledge base and hands-on experience to obtain the benefits under various schemes under FTP like
Service Exports from India Scheme (SEIS) aims to promote export of services from India by providing duty credit scrips for export of eligible services. Under the scheme, service providers, located in India, are eligible to be rewarded 3% - 7% of Net Foreign Exchange Earned (NFEE) for eligible export of services in a financial year.
Merchandise Exports from India Scheme (MEIS) aims to promote export of products from India by providing duty credit scrips for export of notified goods/products. Under the scheme, exporters of products, located in India, are eligible to be rewarded 2% to 7% on realised FOB value of foreign exchange earnings.
Duty Credit Scrips can be used for payment of Custom Duty and other specific levies on goods and services. Scrips are freely transferable and can be sold in the open market also. To obtain a scrip, a service provider is required to follow the prescribed procedures and documentation. Considering the fair amount of complexity involved in the matter, MSKA & Co offers end to end service as detailed below:
a) Regulatory and Implementation Support
b) Compliance and Reporting – Post obtaining the scrip